Unilever to acquire T2 premium tea business in Australia

London & Rotterdam – September 6, 2013. Unilever today announced that it has entered into a definitive agreement to acquire T2, a premium Australian tea business for an undisclosed amount. T2 generated sales approaching AUS$57 million for the 12-month period ending June 30 2013.

Kevin Havelock, Unilever President for Refreshment said: “T2 is a fast growing premium tea business with great potential. Unilever is the biggest tea company in the world with brands like Lipton – one of Unilever’s ‘billion-plus’ brands – available in more than 70 countries. This will allow us to bring the benefits of scale and access to new markets to the T2 business and for both businesses to share tea category expertise. This deal will also bring a premium tea business to complement our portfolio that we can leverage in a similar way to other recent Unilever acquisitions.”

The current T2 business operates 40 stores and its range of fragrant teas and tea wares from around the world are also sold through some of the best restaurants in the country.

Clive Stiff, Unilever Australasia Chairman added, “Our Lipton and Bushells brands are two of Australia’s oldest and best-loved tea brands and tea is a strategically important category for Unilever Australia. We know tea drinkers are increasingly looking for new and diverse tea flavours, so we are delighted to be bringing T2’s premium and exciting range into the fold. T2 is a great Australian success story – a story that we now intend to continue with Unilever.”

T2 Founder and Managing Director Maryanne Shearer commented, “We are delighted that we have found a home for T2 that has such a depth of knowledge of tea and has pioneered sustainability in the industry. Both I and the T2 team are looking forward to working alongside new colleagues in Unilever’s tea business to realise the full potential of the business we have spent the last 17 years building.” The business has been growing double-digit and has significant potential.

Havelock adds, “Under the Unilever Sustainable Living Plan, we have led the tea industry to adopt sustainable agriculture practices, initiating certification by the Rainforest Alliance (RA) in 2007, since when some 450,000 smallholder farmers in our tea supply chain have been trained to the RA standard in partnership with Unilever in preparation for certification. T2 have been working with Fairtrade since 2009 on their English breakfast tea, so we see the basis of a common philosophy here too.”

The acquisition is subject to customary closing conditions.

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About Unilever

Unilever is one of the world’s leading suppliers of Food, Home and Personal Care products with sales in over 190 countries. Our products are present in 7 out of 10 homes globally and are used by over 2 billion people on a daily basis. We work with 173,000 colleagues around the world and generated annual sales of over €50 billion in 2012.

Over half of our company’s footprint is in the faster growing developing and emerging markets (57% in Q1 2013). Working to create a better future every day, we help people feel good, look good and get more out of life. Our portfolio includes some of the world’s best known brands such as Knorr, Persil / Omo, Dove, Sunsilk, Hellmann’s, Lipton, Rexona / Sure, Wall’s, Lux, Rama, Pond’s and Axe, 14 of which now generate a turnover of €1 billion or more.

Our ambition is to double the size of our business, whilst reducing our overall environmental footprint (including sourcing, consumer use and disposal) and increasing our positive social impact. We are committed to helping more than a billion people take action to improve their health and well-being, sourcing all our agricultural raw materials sustainably by 2020, and decoupling our growth from our environmental impact. Supporting our three big goals, we have defined seven pillars, underpinned by targets encompassing social, environmental and economic areas. See more on the Unilever Sustainable Living Plan at www.unilever.com/sustainable-living/.

Unilever has been recognised in the Dow Jones Sustainability World Indexes for 14 consecutive years. We are included in the FTSE4Good Index Series and attained a top environmental score of 5, leading to inclusion in the FTSE4Good Environmental Leaders Europe 40 Index. In 2012 Unilever led the Climate Counts Company Scorecard and the list of Global Corporate Sustainability Leaders in the GlobeScan /Sustainability latest annual survey - both for the third year running. The company is an employer of choice in many of the countries in which it operates and is seen as a symbol for innovation and leadership development.

For more information about Unilever and its brands, please visit www.unilever.com.

About T2

T2 is cherished by tea devotees all over the world – it’s the tea that thousands of people start and end the day with. With 40 stores, T2 is Australia’s leading tea retailer,offering the country’s largest range of premium, tea and tea wares from all around the globe.

T2 has unfurled and blossomed over the last 17 years into an iconic Australian brand. The T2 retail experience is both unique and immersive; a celebration of the centuries-old art of tea-making. A select range of T2 teas is also served in some of the best restaurants and cafes throughout Australia and found on the shelves of leading food purveyors. T2 takes the art of drinking tea to a whole new level.

Ultimately, it is of course tea itself that lies at the very heart of the T2 philosophy. Sourced from all over the globe, there are over 200 teas in their ever-expanding range, embracing all varieties.From the fanciful flavours and scents of herbal and fruit tisanes, to the revered tender white teas, the herbaceous greens, to the strong and heady popular blacks, the T2 tea range is multifaceted and full of adventure.

Founder and Managing Director, Maryanne Shearer explains:“Creating a wonderful taste experience with teas from all over the world gives T2 the opportunity to educate, excite and surprise T2’s customers. The customer experience is always our priority and that's why we love what we do.”